Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Meenambakkam village under the Pammal SRO is Rs 3,850 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has seen significant changes over the years. In 2002, the value was Rs 275 per sq.ft, which increased to Rs 321 per sq.ft in 2003, marking a 17% rise. The value then jumped to Rs 935 per sq.ft in 2007, reflecting a 191% increase. Following this, the 2017 revision set the value at Rs 2,345 per sq.ft, a substantial 151% increase from 2007. The next revision in 2023 saw the value rise to Rs 3,500 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has brought the guideline value to Rs 3,850 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for Bharathi Street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1300%.

Guideline values in Meenambakkam

In Meenambakkam, there are 17 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 8,800 per sq.ft, with the median being Rs 3,850 per sq.ft. Bharathi Street's 2024 figure aligns with this median.

• Dr. Ambedkar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 1,650 per sq.ft (2024)
• Anna Street: Rs 3,300 per sq.ft (2024)
• E.V.R. Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Street?

Bharathi Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Meenambakkam

The guideline value is a crucial factor in property transactions in Meenambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When purchasing property, it is essential to consider the guideline value, as it serves as a benchmark for the transaction. Ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 275 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1300%.

What are the other streets in Meenambakkam with their guideline values?

Other streets in Meenambakkam include Dr. Ambedkar 1st Cross Street, Dr. Ambedkar 2nd Cross Street, Dr. Ambedkar 3rd Cross Street, Dr. Ambedkar Street, Anna Street, and E.V.R. Street, with values ranging from Rs 1,650 to Rs 4,400 per sq.ft in 2024.

What is the stamp duty on property in Bharathi Street?

The stamp duty on property in Bharathi Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.